Logo of Salama Cooperative Insurance Co.
Salama Cooperative Insurance Co.’s subscription to rights shares ends today, Nov. 21.
Rights trading period ran from Nov. 9-16, to increase the company’s capital from SAR 100 million to SAR 200 million through offering 10 million shares at SAR 10 each.
Subscription period also started on Nov. 9.
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Capital Increase Details |
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Current capital |
SAR 100 mln |
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Current number of shares |
10 mln |
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Capital increase (%) |
100% |
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Capital after increase |
SAR 200 mln |
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Number of shares after increase |
20 mln |
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Rights Issue Details |
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Offered shares |
10 mln |
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Offer price |
SAR 10 |
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Issue size |
SAR 100 mln |
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Rights subscription |
Nov. 9-21, 2023 |
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Rights trading |
Nov. 9-16, 2023 |
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Reason |
Supporting plans and boosting solvency |
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Record date |
Nov. 5, 2023 |
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Eligibility ratio |
Each shareholder will be granted one right for every share held |
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Rights issue proceeds |
Bank deposits |
SAR 58.7 mln |
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Bonds & Sukuk |
SAR 30 mln |
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Offering fees and costs |
SAR 11.3 mln |
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Total |
SAR 100 mln |
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